ProPetro (NYSE:PUMP) Given a $10.00 Price Target at Stifel Nicolaus

ProPetro (NYSE:PUMP - Get Free Report) has been given a $10.00 target price by research analysts at Stifel Nicolaus in a research report issued on Wednesday, July 16th, MarketBeat.com reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 79.86% from the company's previous close.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Piper Sandler initiated coverage on shares of ProPetro in a research report on Monday, July 14th. They issued a "neutral" rating and a $7.00 price objective on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $9.00.

ProPetro Stock Down 12.3%

Shares of NYSE PUMP opened at $5.56 on Wednesday. The stock has a market capitalization of $577.74 million, a P/E ratio of -3.89 and a beta of 1.18. The company has a 50-day moving average price of $6.05 and a 200-day moving average price of $6.89. ProPetro has a 1 year low of $4.61 and a 1 year high of $11.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.44 and a quick ratio of 1.39.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). The firm had revenue of $326.15 million for the quarter, compared to analysts' expectations of $331.26 million. ProPetro had a positive return on equity of 2.16% and a negative net margin of 10.60%. The firm's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. On average, equities research analysts forecast that ProPetro will post 0.25 EPS for the current fiscal year.

Institutional Trading of ProPetro

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in ProPetro by 6.6% during the first quarter. American Century Companies Inc. now owns 3,449,060 shares of the company's stock valued at $25,351,000 after acquiring an additional 212,925 shares in the last quarter. Philosophy Capital Management LLC grew its stake in ProPetro by 23.2% during the first quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company's stock valued at $20,734,000 after acquiring an additional 531,751 shares in the last quarter. Nuveen LLC purchased a new position in ProPetro during the first quarter valued at approximately $11,757,000. Sourcerock Group LLC purchased a new position in ProPetro during the fourth quarter valued at approximately $14,079,000. Finally, VR Advisory Services Ltd purchased a new position in ProPetro in the 1st quarter worth approximately $8,634,000. Institutional investors own 84.70% of the company's stock.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.